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MITSUBISHI MOTORS CORPORATION BEGINS SALE OF THE MIRAGE IN THAILAND

Mar 21, 2012

JUMP 2013 STRATEGY FOCUSING ON EMERGING MARKETS COMES ALIVE

Mitsubishi Motors Corporation (MMC) announced it will sell its all-new Mirage “global compact car” in Thailand starting from March today. The Mirage is a “global compact car” developed under a revolutionary concept that fulfils the both the needs of incredibly-growing emerging markets as an entry-level car and eco-conscious advanced markets with its superior environmental performance. The Mirage will be made at a brand-new third factory at Mitsubishi Motors Thailand’s (MMTh) Laem Chabang Plant; the largest MMC plant outside of Japan. The Mirage will first be sold in Thailand, followed by ASEAN countries, Japan, Europe, then expand to other markets successively.

Mr. Osamu Masuko, President of MMC, noted just before a ceremony marking the event in Thailand:

“I am pleased to present the Mirage first in Thailand. The Mirage is an all-new compact car focused on premium fuel efficiency and low CO2 emissions just right for the times where demand for superior fuel efficiency and eco-friendliness are increasing all over the world. I would like to personally thank the Thai government for their promotion of their Eco-car Programme, allowing us the chance to bolster our Thai operations. After Thailand, the Mirage will be exported to ASEAN countries, then gradually make its way around the world.”

The Mirage’s Product Features:

Delivers fuel efficiency and low CO2 emissions that are among the best in its class thanks to its all-new MIVEC1 engine and thoroughly reduced aerodynamic resistance and rolling resistance.

Provides nimble handling inherent to a compact car while utilizing high-efficiency packaging to maintain interior space for five adults.

Optimisation of the body structure and more extensive use of high-tensile strength panel make the vehicle some seven percent2 lighter than a usual car for its class, contributing to better fuel economy. The Mirage uses Mitsubishi’s impact-resistant RISE3 body, which absorbs and distributes impact force to deliver high levels of occupant safety.

High level of quality through MMDS (Mitsubishi Motors Development System), a comprehensive quality management system that sets and assesses/evaluates the

achievement of specific performance benchmarks within each stage of operations from vehicle planning, sales and after-sales services, and MMPW (Mitsubishi Motors Production Way), a unified global quality assurance framework.

In addition, prior to production, MMC has seasoned inspectors from its Japanese factories stationed in Thailand to inspect manufactured units at the new third factory in order to make sure that the same quality standards from its Japanese factories are reached.

The Thai-market Mirage will be equipped with a 1.2L MIVEC engine that delivers fuel efficiency of 22km/L4, among the best in its class, and above the Thai government’s requirements for “eco-car” certification5. The Thai-market Mirage will be priced between THB 380,000 to 551,000 depending on trim level, and plans are to sell 2,500 units per month in Thailand.

MMC announced its JUMP 2013 three-year business plan in January of 2011, and one of the pillars of the plan calls for putting operating resources into emerging markets. Among “emerging markets,” MMC puts particular emphasis on strengthening its operating base in the ASEAN region. The production and worldwide export of the Mirage from Thailand is an important tactic that embodies this strategy. Moving forward, MMC will continue to aggressively bolster its operations in high-potential emerging markets.

Production Volume: 199,760 units (FY2010, 16.8% of MMC’s total production volume)

Cumulative YTD Production Volume: 2,360,000 units (as of February 2012)

1 Mitsubishi Innovative Valve timing Electronic Control system

2 Weight ratio calculated by applying ratio of high-tensile steel used in the Colt to the Mirage

3Reinforced Impact Safety Evolution

4 Calculated internally using ECE R101 Rev.01 Combine Mode

5 Qualifications: based on European calculation methods, more that 5L/100KM (20km/L), reach EURO4 exhaust gas regulations, invest THB5 billion into production in Thailand, and produce 100,000 units per year after the fifth year of production.